Elon Musk says a global recession could last until the spring of 2024

Tesla laminitis and CEO Elon Musk thinks the planetary economical diminution could past for different twelvemonth and a half.

In a Twitter speech aboriginal Friday greeting Eastern time, the mercurial electrical car enforcement and world's richest antheral said a recession could proceed "until outpouring of '24."

The remarks came successful effect to a tweet from Shibetoshi Nakamoto, the online sanction for Dogecoin co-creator Billy Markus, who noted that existent coronavirus numbers "are really beauteous low. one [sic] conjecture each we person to interest astir present is the impending planetary recession and atomic apocalypse."

"It definite would beryllium bully to person 1 twelvemonth without a horrible planetary event," Musk replied.

Tesla Owners Silicon Valley, a Twitter relationship with astir 600,000 followers, past asked Musk however agelong helium thought the recession would last, to which helium replied, "Just guessing, but astir apt until outpouring of '24."

Global GDP grew 6% successful 2021 but is expected to decelerate to 3.2% this twelvemonth and 2.7% successful 2023, according to the International Monetary Fund. That would people the weakest gait of maturation since 2001 extracurricular of the fiscal situation successful 2008 and the little plunge successful the aboriginal days of the Covid pandemic. The Federal Reserve projects GDP successful the U.S. to turn conscionable 0.2% this twelvemonth and 1.2% successful 2023.

Musk becomes the latest firm titan to explicit reservations astir the economy.

In a tweet Wednesday, Amazon laminitis Jeff Bezos said it's clip to "batten down the hatches" successful mentation for unsmooth economical waters ahead. That tweet accompanied a video of Goldman Sachs CEO David Solomon, who said successful a CNBC interview that helium thinks there's a "good chance" of a recession successful the U.S.

JPMorgan Chase CEO Jamie Dimon besides has been warning of economical turmoil ahead.

Musk's remark besides came amid a unsmooth week for Tesla banal arsenic the automaker missed gross estimates and cautioned astir a imaginable transportation shortfall this year.

During the expert call, Musk expressed much assurance successful the U.S. system than different parts of the world. He besides noted the interaction that involvement complaint increases are having connected the economy.

"The U.S. really is successful — North America's successful beauteous bully health," helium said. "A small spot of that is raising involvement rates much than they should, but I deliberation they'll yet recognize that and bring backmost down, I think."

However, helium said China is successful "quite a burst of a recession of sorts" driven by the existent property market, portion Europe "has a recession of sorts, driven by energy."

Correction: A erstwhile mentation of this nonfiction misstated past GDP growth.